Silicon Valley Bank’s Ousted CEO Cashed in Weeks Ago. Now There’s a New Sheriff In Town, and He’s No Stranger to a Crisis
All eyes are on Silicon Valley Bank after its spectacular crash, the second-largest in U.S. banking history. The Federal Deposit Insurance Corporation (FDIC) took control of the bank on Friday and moved to replace its CEO, Greg Becker, who had served in the role since 2011.
The FDIC appointed Tim Mayopoulos as CEO of the newly renamed Silicon Valley Bridge Bank on Monday. He got to work quickly, urging clients to bring their money back to the bank during a Zoom call on Wednesday,